XAUUSD breaks through the upward trend support amid a rallying dollar. Since the opening of the session, the price has been testing the zone of interest, but bears are quite aggressive...Gold is partially recovering after falling to $3,268, a monthly low caused by the Fed's hawkish tone. The Central Bank kept its rate at 4.25–4.5% (9 votes to 2), highlighting uncertainty due to Trump's tariffs. Markets now estimate the probability of the rate remaining unchanged in September at 58% (previously 35%). The dollar's rise slowed amid concerns about the extension of the US-China trade truce and profit-taking ahead of key US employment data (after strong ADP and GDP reports). The nearest drivers are labor market statistics and trade news, while the technical picture for gold remains bearish.
Technically, on D1, the price is breaking key support zones, including the trend line, which overall only increases selling pressure on the metals market...
Resistance levels: 3310, 3320, 3334
Support levels: 3287, 3267, 3255
As part of the correction, the price has exhausted the entire daily ATR, forming a retest of the liquidity and interest zone. If the bears keep the price below 3320-3310, gold may head towards support...
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
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